EAM Solar

Share Issue/Capital Change • Jun 26, 2017

EAM Solar ASA :Acquisition of Royalty Rights

EAM Solar ASA :Acquisition of Royalty Rights

26 June 2017

EAM Solar Park Management AS ("SPM"), a subsidiary of Energeia Asset Management

AS, is providing management services to EAM Solar ASA ("EAM") under an

administrative, technical and commercial management agreement originally entered

into on 17 March 2011 and amended and restated on 3 March 2013 (the

"Agreement").

SPM is entitled to 12.5 % of the annual pre-tax profit (the "Royalty") in EAM.

EAM and SPM is in agreement that the management agreement in its original form

no longer works in the best interest of EAM and SPM, and have therefore decided

to amend the Agreement.

The amendment is conducted to secure that SPM's interests are fully aligned with

EAM in the pursuit of the claims against Aveleos, its directors, Enovos and

Avelar.

EAM and SPM have entered into an addendum to the Agreement pursuant to which EAM

shall buy back SPM's right to the Royalty with effect from the Effective Time,

following which the Royalty will be cancelled. In consideration of to the buy-

back of the Royalty, SPM shall receive a claim equal to NOK 17,436,385. This

claim will be converted into 532,210 shares in EAM (the "Consideration

Shares"). The new shares are non-dilutive for the existing shareholders.

The addendum is subject to the approval of the general meeting of EAM.

The addendum shall become effective when the general meeting of EAM has given

the board of directors of EAM the authority to carry out the increase of the

share capital required to issue the Consideration Shares (the "Effective Time").

SPM will continue as the manager of EAM and except for the amendments described

above the management agreement will continue in force.

SPM has agreed to a lock-up on the Consideration Shares. Under the lock-up, SPM

shall not for the period until the earlier of (i) five years from the Effective

Time and (ii) such time when all legal disputes involving EAM or its

subsidiaries in relation to the acquisition of the P31 portfolio have been

finally settled or adjudicated, sell or in any other way transfer the

Consideration Shares to any other person.

Carnegie and Wiersholm has acted as advisors to EAM in conjunction with this

transaction.

For information, please contact:

Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar ASA: EAM Solar ASA is a utility company that acquires and

operates solar power plants. The Company currently owns solar PV power plants in

Italy. The plants are operating under long-term sales contracts.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.